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WFA speaks to Greek marketers

On 29th March, Stephan Loerke spoke to Greek marketers on the occasion of the Annual General Meeting of WFA's Greek national advertiser association (SDE). At a time of extreme economic pressure in Greece, Stephan laid out the three fundamental and structural changes affecting how marketers operate. Given their magnitude, he refers to them as “seismic shifts.”

The first is the Communications Revolution, which has not only resulted in 2 billion Internet users globally, but in an entirely new set of priorities for marketers. He also cites how mobile is growing at 8 million a month in China and 12 million a month in India. Ten years ago, the US population spent $600 billion on food and $2 billion on computers for a 300 to 1 ratio; now that ratio is one to one. The “conversation prism” or the connection point between marketers and consumers has changed dramatically.

The second change is a new global economic reordering. Certainly, China's fast rise to the second largest economy has made headlines. He feels, though, that it is only part of a larger trend. By 2020, the seven largest emerging economies will be bigger than the G7. Not only does this mean a rebalancing of the global economy, it also means that we're increasingly experiencing a more interconnected world which calls for consistent global standards. A brand operating across geographies is only “as strong as the weakest link” when any contradictions to new global standards can be so easily be exposed.

The third macro-change underscores how brand communications must connect with many stakeholders - not only consumers, but governments, other businesses, NGOs, shareholders, employees. This concept is intensified by social media conversations that are no longer the domain of the brand, but entirely the domain of the participants. He reminds us that consumers are not only citizens of the world, but citizens are also consumers.

Given this environment, he formulates 5 recommendations for marketers. The presentation can be downloaded below.